The crisis in Ukraine has tremendous implications for our clients, many of whom have employees or family directly at risk, operations that have been affected and supply chains that have been interrupted. Mayer Brown’s Ukraine Crisis Core Response team is working to ensure that our clients have access to the critical information and insight that they require.

It is not the easiest time to be in the mortgage business. Mortgage investors and servicers continue to deal with the fallout from the COVID-19 pandemic and its effects on borrowers. Rising interest rates could drain the plentiful supply of refinance business from prior years and deter hopeful homebuyers from seeking new financing. Now, the New York legislature has added another layer of complexity by passing a bill that would significantly impact the residential mortgage foreclosure process in New York. The New York legislation has been approved by both houses of the New York legislature and, if enacted, would significantly constrain lenders’, servicers’ and investors’ ability to efficiently prosecute foreclosure actions and would potentially jeopardize their ability to recover their mortgage debt. This Legal Update further discusses the legislation.

This edition covers many different topics which have surfaced over the past three months in the ASEAN countries and the PRC, India, Japan and Korea.